Chipotle Mexican Grill

16966 Concord Drive, Conroe, TX 77385

$3,473,684

Cap Rate 4.75%

Views: 87 DOM: 134 Updated: 09.16.24 Posted: 08.09.24 Status: Active

Summary

Price $3,473,684	Built/Renov 2024	Tenant Chipotle Mexican Grill
Cap Rate 4.75%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,325	Lease Start 06-18-2024	#Units 3,437
Price/SF $1,494.06	Expiration 06-30-2044	Tenant Type Fast Casual/Rest.
NOI $165,000	R. Term 19.6	Ownership Fee Simple
Rent/SF $70.97	Increases 10.0%/5/yrs	Pop 5Mi 90,810
Lot/AC 0.73	Options 4/5yrs/10%	AHHI 5Mi $152,257

Patrick Luther

SRS National Net Lease Group

Contact

Lease Highlights

Brand new 2024 construction
Chipotle has 19+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Chipotle Mexican Grill is strategically located at the hard corner intersection of Concord Drive and State Highway 242, with access to a combined daily traffic count of 53,800 vehicles. The property is situated directly off State Highway 242 (49,500 VPD) and near Interstate 45, one of Houston's main interstates, which sees 238,400 VPD. The immediate area is surrounded by well-known tenants,...

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Key Features

New construction
Hard corner intersection
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Chipotle Mexican Grill Wikipedia Chipotle Mexican Grill Wikipedia Conroe, Texas Zip Code 77385 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chipotle Mexican Grill
Guarantor:Corp Traded
Company:Chipotle Mexican Grill, Inc.
# Units:3,437
Stock: NYSE: CMG

About Tenant

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company specializes in...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	12,142	35,418	100,471
2024 Total Population :	11,639	31,162	93,744
2024 Employed Civilian Pop :	6,268	15,172	46,508
2024 Total Businesses :	214	1,665	5,606
2024 Average Household Income :	$ 126,587	$ 132,543	$ 154,861
2024 Total Consumer Spending :	$ 419 M	$ 1277 M	$ 4750 M
2024 Median Age :	33	37	39
2024 Total Households :	3,823	11,090	35,554
2024 Pop Age 25+: Bachelor's Degree :	2,427	6,077	22,089
2024 Average Home Value :	$ 364,120	$ 385,996	$ 432,911

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Concord Dr	Needham Rd	2011	310	0.01 mi
White Birch Ln	Needham Rd	2001	260	0.10 mi
Lexington Dr	Hwy 242	2011	1,290	0.20 mi
Needham Rd	Lexington Dr	2011	2,650	0.28 mi
Lexington Dr	Skyridge Dr	2006	1,380	0.35 mi
Needham Rd	Glen Eagle Dr	2011	29,710	0.63 mi
Glen Eagle Dr	Needham Rd	2011	2,220	0.67 mi
Glen Eagle Dr N	Needham Rd	2011	4,130	0.68 mi
Sprawling Oaks Dr	Needham Rd	2011	920	0.74 mi
Moss Oaks Dr	Big Oaks Dr	2001	150	0.86 mi

Listing Broker

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